Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in Everest Group, Ltd. (NYSE:EG)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Everest Group, Ltd. (NYSE:EG) by 12.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,457 shares of the company’s stock after buying an additional 7,523 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Everest Group were worth $25,362,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of Everest Group during the fourth quarter valued at approximately $31,000. Private Trust Co. NA lifted its position in shares of Everest Group by 51.7% in the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock worth $52,000 after purchasing an additional 45 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Everest Group during the 3rd quarter valued at about $64,000. EverSource Wealth Advisors LLC increased its position in shares of Everest Group by 43.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 211 shares of the company’s stock valued at $76,000 after buying an additional 64 shares during the period. Finally, Avior Wealth Management LLC raised its stake in Everest Group by 22.4% in the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock worth $93,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EG. Barclays upped their target price on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Wells Fargo & Company lowered their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods upped their target price on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Morgan Stanley reissued an “equal weight” rating and set a $340.00 price target (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Finally, BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $416.50.

Insider Activity

In related news, Director Geraldine Losquadro sold 1,500 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the sale, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. This represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.

Everest Group Stock Performance

EG stock opened at $361.50 on Monday. The stock’s 50 day simple moving average is $351.43 and its 200 day simple moving average is $366.38. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 12-month low of $327.37 and a 12-month high of $407.30. The stock has a market capitalization of $15.52 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. As a group, research analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were issued a dividend of $2.00 per share. The ex-dividend date was Monday, March 17th. This represents a $8.00 annualized dividend and a dividend yield of 2.21%. Everest Group’s payout ratio is 25.47%.

Everest Group Company Profile

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.